FINRA Unscripted

Latest Episodes:

An Introduction to FINRA’s Crypto Asset Work and the Crypto Hub Aug 08, 2023

Show notes

In 2022, FINRA developed an enterprise-wide strategy to ensure it is prepared for an evolving crypto asset regulatory landscape and created the Crypto Hub, the Blockchain Lab and the Crypto Asset Investigations Team.

On this episode, the first in a three-part series, we sit down with Omer Meisel, Senior Vice President of the Complex Investigations and Intelligence Group, Jason Foye, Senior Director and Head of FINRA's Crypto Hub, and Reema Abdelhamid, a Director with FINRA Enforcement to learn more about the strategy and the role of the Hub and FINRA’s work to advance its mission of investor protection and market integrity.

Resources mentioned in this episode:

FINRA Blog: An Inside Look into FINRA’s Crypto Asset Work

SEC’s SPBD December 2020 Statement

SEC’s September 25, 2020 No-Action Letter, “ATS Role in the Settlement of Digital Asset Security Trades”

Crypto Asset Communications Exam Letter – November 2022

FINRA and NFA Joint Press Release

Reg Notice 20-23: Activities Related to Digital Assets

Reg Notice 21-25: Continued Engagement in Activities Related to Digital Assets

Episode 112: FINRA's Complex Investigations and Intelligence Team & Cyber and Analytics Unit

Episode 113: Regulatory Operations: Stronger Regulation Through Integrated Oversight

Episode 117: Membership Application Program

Episode 134: Gen Z Investor Attitudes

FINRA Foundation Report: Gen Z and Investing

Investor Insights: What Is a Blockchain, and Why Should I Care?

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2023’s Must-Read | Report on FINRA’s Examination and Risk Monitoring Program Jan 10, 2023

Show notes

The best tool FINRA provides when it comes to firms developing their annual compliance program is now available. The 2023 Report on FINRA’s Examination and Risk Monitoring Program provides key insights and observations on two dozen key regulatory topics, making it a must-read for compliance professionals.

On this episode, Ornella Bergeron, Senior Vice President of Risk Monitoring, Michael Solomon, Senior Vice President of Examinations, and Bill St. Louis, Executive Vice President of the National Cause and Financial Crimes Detection Programs (NCFC), join us to dig into some of the new and noteworthy topics in the latest report.

Resources mentioned in this episode:

2023 Report on FINRA’s Examination and Risk Monitoring Program

Episode 112: Introducing FINRA’s Complex Investigations and Intelligence Team and Cyber and Analytics Unit

Episode 71: Overlapping Risks, Part 1: Anti-Money Laundering and Cybersecurity

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Introducing FINRA's Complex Investigations and Intelligence team and Cyber and Analytics Unit Aug 09, 2022

Show notes

The new Complex Investigations and Intelligence (CII) team and Cyber and Analytics Unit (CAU) are driving a shift in terms of how Member Supervision’s National Cause and Financial Crimes Detection Program comes at its work and leverages intelligence and analytics to drive decision making and operations.

On this episode, we hear from Omer Meisel, Vice President of CII, and Brita Bayatmakou, Senior Director of CAU, about how these changes will help FINRA better deliver on its mission of investor protection, market integrity.

Conferences and Events

Episode 86: FINRA’s Financial Intelligence Unit
Episode 72: Overlapping Risks, Part 2: AML and Elder Exploitation

FBI Cyber Threat Briefing Series

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Financial Capability Study: Financial Wellbeing During a Global Pandemic Jul 26, 2022

Show notes

The COVID-19 pandemic disrupted many facets of American life but did not derail a trend toward increasing financial capability. Still, not all Americans are benefiting equally from improvements in financial wellbeing, according to the new FINRA Foundation Financial Capability Study.

On this episode, Gerri Walsh and Gary Mottola of the FINRA Foundation join us to delve into the latest results of this nationwide, triennial study and their implications for the financial industry, researchers, policymakers and more.

Resources mentioned in this episode:

2021 National Financial Capability Study

FINRA Foundation

Financial Literacy Quiz

Episode 38: 2018 Financial Capability Study, Part I: Does a Rising Tide Lift All Boats?

Episode 39: Financial Capability Study, Part II: Tracking Shifting Currents of Financial Well-Being

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The Essential Senior Investor Protection Tools: FINRA Rules 2165 and 4512 May 03, 2022

Show notes

Every year, millions of seniors become victims of financial exploitation, resulting in billions of dollars in losses. That's just one reason why the protection of these investors is a top priority for FINRA.

On this episode, we hear from FINRA’s Office of General Counsel’s Jeanette Wingler and Jim Wrona about how FINRA Rules 4512 and 2165, the first uniform national senior investor protection standards, can help broker-dealer firms and representatives protect their senior and other vulnerable adult customers.

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Resources mentioned in this episode:

Rule 2165

Rule 4512

Episode 16: How FINRA Rules Get Made (and Reviewed)

Securities Helpline for Seniors®

FINRA Foundation

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Overlapping Risks, Part 2: Anti-Money Laundering and Elder Exploitation Nov 10, 2020

Show notes

A broker-deal firm’s anti-money laundering efforts may overlap with any number of other regulatory concerns. On the last episode, we looked at the intersection of a firm’s AML and cybersecurity risks. On this episode, the second in a two-part series, we’re looking at how AML may overlap with a firm’s efforts to protect senior investors from exploitation and fraud.

Joining us on this episode are Jason Foye, a director with FINRA's Anti-Money Laundering Investigative Unit, and Brooke Hickman, a director with FINRA's Vulnerable Adults and Seniors Team (VAST), both with FINRA’s National Cause and Financial Crimes Detection Program.

Resources mentioned in this episode:

FinCEN February 2011 Advisory on Filing SARs Regarding Elder Financial Exploitation

SARs on Elder Financial Exploitations: Issues and Trends, CFPB

DOJ’s Elder Justice Initiative

FINRA Resources on Senior Investors

FINRA Securities Helpline for Seniors

FINRA Foundation – Aging and Financial Decision Making

FINRA Investor Alerts

Virtual Conference Panel: Social Distancing and the Impact on Older Investors

Virtual Conference Panel: Financial Crimes, Trends and Responses In the Midst of the Pandemic

Episode 33: Money Laundering in the Securities Industry

Episode 34: AML Priorities and Best Practices

Episode 71: Anti-Money Laundering and Cyber Security

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Overlapping Risks, Part I: Anti-Money Laundering and Cybersecurity Oct 27, 2020

Show notes

Firm regulatory risks and priorities don't exist in a vacuum. And that is perhaps nowhere clearer than when it comes to a firm's anti-money laundering responsibilities. A firm's AML risks can overlap with any number of other priorities.

On this episode, the first of a two-part series, we're looking at the intersection of a firm's AML and cybersecurity risks. Joining us are Jason Foye, a director with FINRA's Anti-Money Laundering Investigative Unit, and Dave Kelley, a director with FINRA's Cybersecurity Specialist Program, both with FINRA’s National Cause and Financial Crimes Detection Program.

Resources mentioned in this episode:

Episode 60: Introducing Greg Ruppert and the NCFC

Episode 33: Money Laundering in the Securities Industry

Episode 34: AML Priorities and Best Practices

SWIFT: How Cyber Attackers ‘Cash Out’ Following Large-Scale Heists

FinCEN October 2020 Advisory on Ransomware

FinCEN July 2020 Advisory on Cybercrime

FinCEN October 2016 Advisory on Cyber Events

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Regulation Best Interest: Implementing a New Standard of Conduct Jul 07, 2020

Show notes

As of June 30, 2020, the U.S. Securities and Exchange Commission’s Regulation Best Interest—or Reg BI—is officially in effect. That means brokerage firms now have to comply with a new standard of conduct when working with retail clients.

On this episode we talk to Meredith Cordisco and Jim Wrona of FINRA’s Office of General Counsel about what a post implementation date world looks like for FINRA member firms and what FINRA has been doing to train staff to ensure a consistent approach to examining around and enforcing the new rule across the organization.

And listen to the end for a special surprise from Jim.

Resources mentioned in this episode:

SEC Reg BI Resource Page

FINRA Reg BI Resource Page

Virtual Conference Panel: Reg BI and Form CRS: Where Are We Now

Virtual Conference Panel: Reg BI: Compliance Inspections and Examinations

Email questions: IABDquestions@sec.gov

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Beyond Hollywood, Part II: AML Priorities and Best Practices May 14, 2019

Show notes

The world of money laundering is a fast-paced and ever evolving as we learned on the last episode of FINRA Unscripted. That can make it difficult for a financial firm to develop and maintain a robust anti-money laundering program.

But maintaining a strong program is essential, making AML a perennial priority for FINRA’s examination staff. A robust AML program will not only safeguard the investing public and our financial markets, but it will also protect a firm’s reputation.

On this episode of FINRA Unscripted, we are joined once again by Blake Snyder and Jason Foye of FINRA’s AML Investigative Unit to discuss current priorities and best practices when it comes to anti-money laundering regulation.

Resources mentioned in this episode:

FINRA Senior Helpline
2019 FINRA Priorities Letter
FINRA CDD Rule Requirements

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Beyond Hollywood: Money Laundering in the Securities Industry Apr 30, 2019

Show notes

When three hapless employees inadvertently embezzle a bunch of cash in the movie “Office Space,” they decide the best way to cover it up is to launder it. But the thing is, they don’t even really know what money laundering is and they learned that even the dictionary couldn’t fill them in.

If you want to understand what money laundering is, and more specifically, the efforts brokerage firms must take to prevent and detect it, stay tuned. We have something better than the dictionary: we have Blake Snyder and Jason Foye, two members of FINRA’s Anti-Money Laundering Investigative Unit.

On this episode of FINRA Unscripted, Blake and Jason explain what money laundering is, how it looks different in the securities industry, how that makes regulation different for the securities industry, what FINRA’s Anti-Money Laundering Investigative Unit does and more.

Resources mentioned in this episode:

Key Topics: AML
AML FAQs
AML Half-Day Seminars

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